Property firm Sirius Real Estate is adding a 37,000 square meters business park to its German portfolio.
Sirius said it has agreed to acquire the business park in Reinsberg in Saxony for €20.4 million, representing a 6% EPRA net initial yield after purchase costs.
The asset is 75% occupied, with a 25% vacancy rate, Sirius said, adding that the vacancy rate offers the potential to increase value by leasing the available space, while the existing occupancy provides substantial immediate income.
Source: realassets.ipe.com on the 4th of February